L.A. Broker Arrested for Allegedly Pocketing $381,000 in Premiums
West News April 14, 2006
A former Los Angeles insurance broker has been arrested for allegedly pocketing $381,966 in liability insurance premiums from clients. The California Department of Insurance arrested Bernard ...
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Subject: To all Farmers bashers regarding Ray W
Posted On: April 17, 2006, 9:01 pm CDT
Posted By: ExFarmboy
Comment:
I don't think you can compare the $381,966 theft over 6 months with the $8,000,000 over 4 years by Ray W.. The the 6 months cae the carriers and GA turned in the guilty party. Not the case with Ray. Farmers was caught with their pants down (I think they actually pulled them down them selves)when the DOI and other authorities arrested Ray. They did not apppear to have any idea this was going on. You are correct in that theft can happen to any company at any time, but not in that amount over that period of time without either assistance or incompetance.
Subject: To all Farmers bashers regarding Ray W